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Economic delegation consisted of 29 large companies, such as Daewoo E & C
and Lotte Confectionery, and medium and small businesses participated -

The Korea
International Trade Association (Chairman, Kim Young-joo) held the
'Korea-Algeria Business Forum' on January 17 (local time) with an economic
delegation consisting of 41 participants from 29 large companies as well as
medium and small businesses at Algiers in Algeria.

The forum,
held under the theme of 'Leap and Prosperity through Mutual Cooperation', was
attended by 200 participants, including high ranking officials from both
countries such as Prime Minister Lee Nak-yeon of Korea, Prime Minister Ahmed
Ouyahiaof Algeria, Minister Youcef Yousfi of Industry and Mines and Minister
Abdelkader Messahel of Foreign Affairs and business people and shared opinions
about ▲the
strategic economic cooperation for industrial diversification, ▲ the investment and partnership in Algeria, and ▲the operation cases of the joint ventures in construction and
infrastructure.

Large
companies such as Daewoo E & C, Lotte Confectionery and POSCO Daewoo and
promising medium and small companies like Mom Healthcare, and Satrec Initiative
sought for business opportunities to advance into the Maghrib region and
preoccupy the market.

Prime
Minister Lee Nak-yeon said in his keynote speech, “Algeria is the only country
in Africa that has strategic partnership with Korea and has a lot in common in
terms of history and culture.” He stressed, “Based on this, the two countries
need to strengthen cooperation in the fields of manufacturing and information
and communication technology (ICT) in the future.”

Chairman
Kim Young-joo of the Korea International Trade Association said in his opening
speech, “Recently, Algeria has been trying to diversify its industries by
establishing automobile assembly plants through attracting foreign direct
investment.” He suggested, “Korean companies need to expand their investment in
Algeria and cooperation with Algerian companies and the two countries need to
seek the ways to leap and prosper.”

The
economic delegation will move to Tunis on December 19th to attend the
'Korea-Tunisia Business Forum' and participate in the 'One-on-One Conference
and Morocco Business Forum' in Morocco on December 21st.